New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-11-05
IVES SECURITIES SOLD.
BETTER PRICES THAN WERE ExPECTEn>


PART OF THE STOCKS WITHDRAWN AND THE SALE
ENDED-rALK ABOUT THE SALE.
The auction Of a large lot Of securities whic6
were II dsod originally By Henry 8. Ives q Co. for
loan by Irving A. Evans Co., Of Boston, attracted
good attendance at the Real Estate Exchange yester'
day. Among those present Henry 8. Ives and
his partner, George H. Stayner; Msernon Sullivan,
who represented the assignee OF the firm Alfred suIy
and e. W. Fairbanks, who Interested In behalf Of
the Corbin sully combination, which sold the Dayton
and Ironton Railroad 10 Ives and did not secure pay
ment for thu whole amount. and Julius Dexter, presi-
dent Of the Cincinnati, Hamilton and Dayton Raroads
who had ordered the sale Tho first lot 800 600
Dayton and Chicago per cent bonds which, on 40
count OF their couded ISSUE brought only per cent
OF their face value. -Four hundred shares of Cincn-
natl, Hamilton and Dayton common stock sold al $50
share, price rather higher than the recent quota
tiOns al the Stock Exchange. The next parcel was
1921 shares of Dayton Fort Wayne and Chicago
stock, Of which the aUctiOncer said there might DO
little less The first bid was 80 cent, share,
but BY small advances price run rapidly up 10
a so share AZ which IL sold. Lawyer sullivan
quickly calculated that ihc balance Of the Evans In
dcbtcdncSs bad been satisfied aud In behalf Of the
siSncc. no demanded that President Dexter should
withdraw the other securities advertised. Tho request
was granted and alt ough some objections were mado
from the ilOor the auctsoncer decided thar Mr. Dsx
ter had ordered the sale he had right To Withdraw
tho securities AT any time.
Ihcic II no Houbt thai the price Obtained for The
Dayton Fort Wayne and Chicago stock a sur
prise tn nearly all persons Interested II is understood
that the present management of the Cincinnati Ham
ilton and Dayton forced the sale In the hope that
could buy In the securities less than The loaned
them and thus obtain tho absolute ownership
Irving A. Evans advertised them at sncion twice In
september but twice withd them In subsi isl
sderstOns, and finally thu company bonghi his claim
The right OF the officers tho cOmpaTy's money
In this way has been carried into the and a de.
place the company Ia tho hands of receiver is also
pending. il is suspected that the management chose
this Opportunity for forced sale with The expecta~
ton that It could gain legal control of the securities
At low price. AZ any rate President Dexter refused
repeated requests TO pone the sale and there
talk, in the Interest Of Ives and his assignee, OF
restraining the sale by Injunction.
The Dayton, Ort Wayne and Chicago stock was
boubh By {. ". Fairbanks. OF No. I15 Broadway 10
supposed by President Dexter and by Ives and
his friends that Mr. Fairbanks actually for suy as
well himself aud that they had some plan for using
the road There were many cOn1ectures about tho
hidden purpose Of the purr hasers. There Is
believe. however, that he Transaction has special
significance. The COrbin 'uly interests sold Ives
the DAYTON and Ironon. which IS part OF hc Dayton
FO1 Wayne and Chicago and this account wero
creditors of the famous firm 10 the extent II about
S4Op.0OO. II Is with view Of projecting this claim
that they bought the largo block of stock which viii
virtually give them control of the company. Their
when II doubtful If the property Will satisfy the In
cumblhnres II.